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PNC Tax Exempt MMkt I

The investment seeks to provide high current interest income exempt from federal income tax consistent with stability of principal and liquidity.
The fund invests primarily in high quality, short-term money market instruments issued by or on behalf of states, territories and possessions of the United States, the District of Columbia and their political subdivisions, agencies, instrumentalities and authorities that pay interest exempt from federal income taxes ("municipal money market instruments"). However, fund dividends will generally be taxable for state and local income tax purposes.